Not every material contribution to a musical work confers copyright ownership or authorship

Micheal Oluwole (‘the Plaintiff’) commenced the action on 8 March 2024 by a Writ of Summons and Statement of Claim against Mrs. Osinachi Joseph Egbu, popularly known as Sinach (‘the Defendant’), in respect of the musical work titled Way Maker.

The dispute arose from the Plaintiff’s involvement in the recording and production of Way Maker. In the course of the engagement, the Plaintiff worked as a studio engineer and provided recording, mixing and mastering services. He also worked on the melodies and parts of several musical instruments used as accompaniments to the Defendant’s vocals in the recorded version of the song.

Before the Plaintiff’s involvement, the Defendant had written and composed Way Maker and had performed it in South Africa. She later engaged the Plaintiff to work on the existing song and to provide sound production, mixing and mastering services in connection with its development and recording. The parties did not execute a written agreement setting out the terms of the engagement or their respective interests in the work. The engagement was based on an oral arrangement, and payments made to the Plaintiff through Slic Inspire Limited included ?192,000 on 20 October 2015 and ?448,000 on 10 December 2015.

A disagreement subsequently arose over the nature and extent of the Plaintiff’s contribution to, and rights in, the musical work. The Plaintiff consequently instituted the present action, seeking, amongst other reliefs, declarations that he was an author and co-owner of Way Maker; an equitable division of income derived from the work; disclosure and accounts of licences and assignments relating to the work; ?5 billion in general damages; and an injunction restraining further exploitation of the work.

One of the issues for determination was: Whether this Honourable Court can make a determination on whether the Plaintiff is the author, writer, composer, creator, co-owner and performer of the musical instruments in the musical work/song, ‘Way Maker’.

ARGUMENTS

Learned counsel for the Plaintiff submitted that the Plaintiff’s contribution to Way Maker was creative and not merely technical. Counsel argued that the Plaintiff composed the melodies and instrumental parts accompanying the Defendant’s vocals and thereby contributed original expression to the musical work. It was submitted that the persons who created a musical work are its authors and copyright owners and that, where different persons have interests in the various copyrights comprising a composite production, they are deemed co-owners. Counsel therefore contended that Way Maker, being a composite production comprising the respective contributions of the Plaintiff and the Defendant, gave rise to joint authorship and co-ownership.

Learned counsel further submitted that the Plaintiff’s engagement went beyond technical mixing and mastering services because he contributed original musical elements to the finished work. Counsel maintained that the Defendant’s vocals and the Plaintiff’s melodies and instrumental accompaniments were distinct but inseparable elements of the musical work and that each party therefore held an interest in the copyright arising from his or her contribution.

Counsel also argued that payment for the Plaintiff’s services did not, without more, extinguish or transfer the copyright in his creative contribution. There was no written agreement assigning his interest to the Defendant, limiting his role to that of a mixing and mastering engineer, or providing that the payments constituted full and final settlement of his proprietary rights. Counsel therefore maintained that the Plaintiff retained copyright in his contribution and was entitled to recognition as a co-author and co-owner, together with a corresponding share of the royalties and income derived from the exploitation of Way Maker.

In response, learned Senior Counsel for the Defendant submitted that the Plaintiff failed to establish that he was an author or co-owner of Way Maker. Counsel argued that the Defendant had written, composed, arranged and performed the song before engaging the Plaintiff, including at an earlier performance in South Africa. The Plaintiff was subsequently retained to provide sound production, mixing and mastering services and to assist in developing the existing song into an album. Such involvement, counsel submitted, did not confer authorship or co-ownership of the underlying musical work.

Learned Senior Counsel further relied on the Plaintiff’s admission that the parties had agreed on remuneration for his services and that he had been paid. He argued that the payments of ?192,000.00 and ?448,000.00 were consistent with an engagement for services and not with any agreement for co-ownership. He also submitted that, because the Plaintiff sought declaratory reliefs, he had to establish authorship on the strength of his own evidence. His failure to place Way Maker before the Court meant that the Court could not identify or assess the original musical elements allegedly created by him. Counsel therefore urged the Court to hold that the Plaintiff had not proved authorship or co-ownership of the work.

DECISION OF THE COURT

In resolving the issue, the Federal High Court held that:

Not every person involved in the creation of a recording is necessarily an author. A producer, engineer, session musician or sound technician may contribute materially to the finished product without becoming an author unless they create original expressive content. Authorship resides in the original creative mind responsible for the intellectual creation.

The Federal High Court explained that an author is the natural person who creates the intellectual property embodied in a musical work, including its melody, harmony, lyrics or arrangement. Copyright vests in the author from the moment of creation, without the need for registration or formal notice, and confers exclusive rights to reproduce, distribute, perform and license the work. A musician who, as a composer, creates an original work through his ingenuity acquires an intellectual interest in that work which ranks pari passu with other proprietary rights.

In the instant case, the Court found that Way Maker was originally created by the Defendant, who had performed the song in South Africa with persons other than the Plaintiff before engaging him. The Plaintiff’s role was limited to producing the existing song as a musical work for an agreed fee, which he was paid. Accordingly, the Court held that the Plaintiff could not sustain his claim to authorship of Way Maker and described the claim as ‘gold-digging and unmeritorious.’

Issue resolved in favour of the Defendant.

Matthew Enilolobo for the Plaintiff.

Emeka Etiaba SAN with Omolola Aderolu and O. G. Ofomata for the Defendant.

This summary is fully reported at (2026) 9 CLRN in association with ALP NG and Co.

CARIBBEAN-SECURITY-Caribbean countries to impose sanctions on Haitian gangs

Guyana and Trinidad and Tobago have agreed to impose a range of sanctions on the notorious Haitian gang, Viv Ansamn, and 23 other similar narco-terrorist groups operating in several countries of the Americas.

The two Caribbean Community (CARICOM) countries are members of the United States- led Shield of the Americas and announced their position following a meeting President Donald Trump on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York.

‘We declare our intention to impose, as applicable and in accordance with our respective international and domestic legal obligations, asset freezes; immigration and visa restrictions for members, associates, and supporters of the organizations; and criminal liability for individuals knowingly providing material support, including logistical support, to the organizations, among other measures,’ the participating states said in a ‘Joint Statement on Defending Hemispheric Sovereignty’ .

The Haitian criminal group Viv Ansamn is a coalition of gangs, led by former police officer Jimmy ‘Barbecue’ Chérizier, and has been blamed for the widespread political instability in the French-speaking CARICOM country, ahead of the first presidential and legislative elections on December 13 this year.

The Shield of Americas member countries have also announced a collective action to confront the scourge of narco-terrorism targeting the Venezuelan gangs- Tren de Aragua and Cartel de Los Soles.

Guyana has in the past expressed concern that Tren de Aragua members had been crossing from Venezuela into Guyana’s Essequibo Region.

Trinidad and Tobago Prime Minister Kamla Persad-Bissessar in an address to the UNGA on Tuesday evening said transnational organised crime continues to pose a serious threat to the security and development of small island states.

‘Small states face serious challenges from sophisticated criminal networks that move people, that move weapons, that move narcotics, and illicit finance across national borders.

‘For Trinidad and Tobago, this is not an abstract threat. These networks directly endanger our citizens, they endanger our institutions, and they endanger our development,’ she added.

Brazil’s largest criminal organisation, Primeiro Comando da Capital (PCC), regarded as that Brazil’s largest criminal organization, and the decades-old major drug group, Comando Vermelho (CV), are also on the list of 24 blacklisted groups.

In their statement, the Shield of the Americas members said they intend to defend their economies by enhancing economic cooperation; exploring investment screening mechanisms; safeguarding critical minerals supply chains through diversified and reliable sourcing; and promoting trusted supplier regulations for digital infrastructure, applied on a non-discriminatory basis.

‘We recognize that durable security requires economic development, stable jobs, and tangible opportunities for the people, and that economic sovereignty is successfully defended when capital entering our nations is transparent and verifiable.’

They said they will also defend democratic governance against armed narco-terrorist networks including coordinating on sanctions, designations, and financial actions against terrorists and criminals; expansion of civilian law enforcement; and supplying humanitarian and messaging assistance to defend popular will.

In addition they said they will ‘defend and promote mutual respect for national sovereignty and each nation’s self-determination through multilateral fora to coordinate and advance shared objectives and proposals, such as catalyzing international enforcement actions against transnational organized criminal groups or pursuing needed reforms to multilateral organizations.

‘In furtherance of these three pillars, participating states intend to strengthen cooperation through enhanced intelligence sharing; facilitate access, where appropriate, to security technologies and capabilities; promote training and professional development of human resources; and expand the exchange of best practices.

‘Participating states also intend to deepen cooperation on investment and economic matters and to strengthen consultation on and coordination of common positions on issues of shared interest in regional and multilateral for a,’ according to the joint statement.

They said to facilitate these aims, they intend to co-sign a formal request to the President of the Organization of American States (OAS) Permanent Council requesting a meeting of consultation to decide on the establishment of an Organ of Consultation under Articles 6 and 13 of the Inter-American Treaty on Reciprocal Assistance (Rio Treaty).

‘Once the formal meeting of the Organ of Consultation is convoked, we intend to participate at the ministerial level to consider adopting a resolution promoting and facilitating collective action against narco-terrorist organizations under the Rio Treaty.

‘States that participate in the Shield that are not currently parties to the Rio Treaty declare their support for this initiative and express their determination to contribute to it in accordance with and to the extent possible under their respective international and domestic legal obligations, including by participating in the Organ of Consultation to the extent permitted under its Rules of Procedure.’

Digital-bank mimics given requirements

THE central bank has issued capital and other requirements to ensure that thrift, rural, and cooperative banks shifting to digital bank business operate in a ‘safe and sound’ manner. Under Circular 1240 dated September 21, 2026, the Bangko Sentral ng Pilipinas (BSP) said existing thrift, rural and cooperative banks determined by the BSP to be operating under a business model similar to that of a digital bank must meet the P1-billion minimum capital requirement applicable to digital banks, among other requirements.

‘They have six months to comply with these prudential requirements from receipt of the BSP’s notice,’ the central bank said in a statement it issued last Wednesday.

Similarly, when a proposed acquisition is intended to transform a thrift, rural, or cooperative bank into a technology-driven business model, the BSP shall require P1-billion minimum capital requirement at the time of application.

The BSP said the bank must also comply with prudential standards applicable to digital banks.

Additional requirements, including enhanced supervisory reporting, restrictions on certain activities or new digital products and services and strengthened risk management and control systems may also be imposed, the central bank added.

The BSP explained the requirements will cover thrift, rural and coop banks that fall under two conditions.

First, they operate under a business model similar to that of a digital bank or their risk management systems and capital are no longer commensurate with their official business model and risk profile.

Second, they use digital platforms to deliver services and record significant growth in loan or deposit balances.

‘The requirements aim to ensure that these banks can adequately manage risks arising from the nature, scale, complexity, and risk profile of their operations,’ the central bank noted. Andrea E. San Juan

The circular also allows the BSP to issue additional digital bank licenses, including through the conversion of existing thrift, rural and coop banks.

Heavy rain raises downstream flood risk

Heavy to very heavy rain forecast across much of the country over the next five days is expected to increase flood risks in Bangkok and the central plains, with water levels in parts of Ayutthaya and Ang Thong potentially rising by up to 1.25 metres.

The Thai Meteorological Department (TMD) has forecast heavy rain from Wednesday until Sept 27, with Bangkok and surrounding provinces expected to be particularly affected. Rainfall during the critical three-day period from Sept 24-26 could reach 125-250 millimetres.

The heavy rain is expected to affect parts of the North, Northeast, Central Plains, East and South, with Chanthaburi and Trat among the eastern provinces forecast to receive particularly high rainfall.

The Department of Disaster Prevention and Mitigation has warned communities along the Chao Phraya River to prepare for rising water levels of 0.61-1.50 metres over the next one to nine days, depending on rainfall and upstream runoff.

The warning comes as water is already surging down from the North. The Royal Irrigation Department (RID) said water flow at the C.2 monitoring station in Nakhon Sawan reached 1,601 cubic metres per second early yesterday, while another 140 cubic metres per second was recorded on the Sakae Krang River in Uthai Thani.

The combined flow is moving downstream towards the Chao Phraya barrage in Chai Nat, prompting irrigation officials to gradually increase downstream discharge from 1,300 to 1,500 cubic metres per second yesterday. The higher discharge is expected to remain in place as officials manage incoming water and reservoir levels.

RID director-general Wittaya Kaewmee said water management was focused on three measures: keeping upstream water levels below target thresholds, maximising diversion into eastern and western irrigation networks, and increasing dam releases incrementally in line with incoming flows.

Particular attention is being paid to low-lying areas outside flood embankments in Ayutthaya and Ang Thong, where water levels could rise by 0.75-1.25 metres. Communities protected by flood barriers are not currently expected to be directly affected by the increased discharge.

Officials said the flood risk would depend not only on dam releases but also on additional rainfall across the upper river basins between Sept 23 and 27. Authorities have urged farmers in low-lying floodplain areas to accelerate harvesting and prepare land for possible inundation.

ECOWAS Parliament tackles climate change, displacement, insecurity in Accra

Climate change and environmental degradation are deepening the risks of displacement and insecurity across West Africa, with lawmakers at the Economic Community of West African States (ECOWAS) Parliament urging governments to move beyond national responses and adopt stronger regional solutions.

The warning came as the ECOWAS Parliament opened its Second Parliamentary Seminar and Second Extraordinary Session for 2026 in Accra, Ghana.

George Hagan, Leader of the Ghanaian delegation to the ECOWAS Parliament, said the region was facing ‘several intricate and interconnected challenges’ requiring collective action, political dialogue and stronger regional cooperation.

Hagan, who welcomed delegates on behalf of John Mahama, Ghana’s President, Jane Naana Opoku-Agyemang Vice President, Alban Sumana Kingsford Bagbin, Speaker of Parliament and the Ghanaian Parliament, said the meeting provided an opportunity to strengthen the parliamentary dimension of regional integration.

He said the participation of parliamentarians from ECOWAS member states demonstrated their shared commitment to the ideals of regional integration and the use of parliamentary diplomacy to address challenges confronting West African citizens.

According to him, the ECOWAS Parliament has an important responsibility to ensure that the voices, aspirations and concerns of citizens are reflected in regional decision-making.

‘Parliamentarians occupy a unique position within our democratic systems. We are not only legislators, but also representatives of the people, and important actors in promoting dialogue, accountability, good governance, peaceful resolution of differences and positive socio-economic and environmental development of our respective countries and the West Africa sub-region in general,’ he said.

Hagan said the role of the regional parliament had become increasingly important because many of the challenges confronting West Africa could not be effectively addressed by individual countries acting independently.

He identified climate change, environmental degradation, population displacement and insecurity as interconnected challenges requiring coordinated responses across the region.

The Ghanaian lawmaker said the parliamentary seminar and extraordinary session would provide an avenue for lawmakers to deliberate on matters of common interest and develop approaches capable of strengthening cooperation among member states.

He urged participants to use the gathering to reinforce the principles of regional solidarity, democratic governance, peace, security and sustainable development.

The seminar comes amid growing concerns across West Africa over the impact of environmental pressures and climate-related challenges on livelihoods, migration and security.

For countries already dealing with displacement and insecurity, the interaction between environmental degradation and socio-economic vulnerabilities has increasingly become a regional concern, requiring governments and regional institutions to adopt responses that go beyond national boundaries.

Hagan said parliamentarians had a particularly important role in this process because of their responsibility to represent citizens while providing oversight and contributing to policy development.

He noted that parliamentary diplomacy could help deepen dialogue among ECOWAS member states and provide a platform for lawmakers to address shared concerns and promote peaceful solutions to regional challenges.

‘The ECOWAS Parliament therefore has an important role to play in bringing the voices, aspirations and concerns of our citizens closer to the regional decision-making process,’ he said.

He added that the responsibility was even more significant at a time when West Africa was confronted with challenges that crossed national borders.

Hagan expressed confidence that deliberations during the seminar and extraordinary session would produce meaningful outcomes capable of contributing to the collective efforts of ECOWAS countries.

He also called for stronger parliamentary cooperation in addressing environmental and security challenges, while reaffirming Ghana’s commitment to the regional integration process.

‘Let us seize this opportunity to reaffirm our shared commitment to regional solidarity, democratic governance, peace, security and sustainable development,’ he said.

The Ghanaian delegation leader also welcomed the Speaker, Deputy Speakers and members of the ECOWAS Parliament, representatives of ECOWAS institutions, members of Ghana’s Parliament, government officials, members of the diplomatic corps and other participants to Accra.

He urged delegates to take advantage of Ghana’s hospitality during the meeting and encouraged them to visit tourist attractions in and around Accra.

The gathering is expected to provide a platform for lawmakers to examine the environmental, social and security dimensions of climate-related challenges and their implications for regional stability and integration.

Hagan said Ghana was honoured to host the parliamentary gathering and expressed hope that the discussions would strengthen cooperation among lawmakers and contribute to addressing the interconnected challenges confronting the West African sub-region.

Cyprus President addresses UNGA on Wednesday

Cyprus President Nikos Christodoulides will address the United Nations General Assembly at 19:30 Cyprus time Wednesday.

In his address the President is expected to focus mainly on the ongoing efforts to resume negotiations for a Cyprus and the political will shown by the Greek Cypriot side to this end, as has been expressed many times publicly.

Today, the President will participate and make an intervention in the proceedings of the High-Level Meeting on Climate Change.

The meeting with the UN Secretary-General is scheduled for Thursday afternoon.

On Thursday morning, Cyprus time, he will also have a meeting with the Vice President of ExxonMobil, John Ardill.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

UN Secretary-General Antonio Guterres, whose term nears its end, announced he would convene another meeting in broader format, after adequate preparation, but gave no timeline. He secured to that end the consensus of both sides and of the guarantor powers. María Angela Holguín, Guterres’ Personal Envoy on Cyprus, is tasked to engage with the parties. Executive Vice-President Raffaele Fitto acts as the European Commission’s Special Representative for Cyprus, succeeding EU special envoy Johannes Hahn.

National Lottery pays Sh250 million to winners as Main FM unveils new game

ITHUBA Tanzania Limited, operator of the National Lottery, paid out Sh250 million to various winners during its first year of operations as the company enters the second year of its eight-year contract.

The figure was revealed yesterday during the signing of a strategic partnership between ITHUBA Tanzania and Mainstream Group Limited to launch MainPesa LOTTO through Main FM.

The partnership gives the National Lottery a new platform to reach sports fans and other listeners through radio, while Main FM will promote the game through its programmes and digital platforms. MainPesa LOTTO allows participants aged 18 and above to buy a Sh1,000 ticket and get three opportunities to win through period, end-of-day and weekly draws.

ITHUBA Tanzania chief executive Kelvin S Koka said the partnership would bring the National Lottery closer to players through a radio platform they know and listen to regularly.

Mainstream Group chief executive Deogratius Mosha said the initiative was part of the company’s ‘Radio Moja’ strategy, aimed at connecting its audience with different opportunities through its platforms.

Main FM will promote MainPesa LOTTO through radio programmes, commercial spots, verified results, winners’ stories and digital content, strengthening its connection with the sports and entertainment audience.

The new game will have period draws from Monday to Saturday at 9am, noon, 3pm, 6pm and 9pm. The 9pm draw will also include the end-of-day draw, while the Saturday night draw will feature the weekly draw.

Prizes below Sh1 million are expected to be paid directly into the mobile money account linked to a winning ticket after verification, while prizes of Sh1 million and above will follow the National Lottery’s major prize claim procedure.

MainPesa LOTTO is available only to people aged 18 and above, with participants urged to play responsibly and treat lottery games as entertainment rather than an investment or guaranteed source of income.

Thor Explorations Expands Community Investment Through Women Empowerment and Scholarship Programmes

Segilola Resources Operating Limited (SROL), the Nigerian wholly owned subsidiary of Thor Explorations Ltd, has advanced its commitment to sustainable community development with the empowerment of women entrepreneurs and the award of scholarships to students across its host communities in Osun State.

Through the 2026 Segilola Women Initiative Programme (SWIP) and the SROL Gold Scholarship Programme (SGSP), 96 beneficiaries from Iperindo, Odo-Ijesha and Imogbara communities received support aimed at strengthening livelihoods, expanding economic opportunities and investing in the long-term development of young people.

Under SWIP, 30 women entrepreneurs received equipment tailored to their businesses, including freezers, sewing and stoning machines, digesters, multi-purpose grinders, gas burners and cooler sets. The support is designed to help beneficiaries increase productivity, expand their businesses and build more sustainable sources of income.

A further three previous SWIP beneficiaries, one from each host community, received additional equipment as part of the programme’s continuous monitoring and business upscaling initiative. In Iperindo, a beneficiary was upgraded from a domestic sewing machine to an industrial sewing machine to increase production capacity. In Odo-Ijesha, a beneficiary who had previously received a pepper grinder received a flour and maize grinder, enabling her to diversify her processing business. In Imogbara, weaving and button-cover machines were added to an existing sewing business, enabling the beneficiary to broaden her services and expand her enterprise.

Since its launch in 2021, SWIP has supported more than 200 women across SROL’s host communities, providing practical tools and equipment to promote financial independence and greater participation in the local economy.

Speaking about the impact of the programme, returning SWIP beneficiary Adesuyi Titilope Elizabeth said:

‘I appreciate SROL for recognizing the needs of women in our community and providing practical support. This equipment will help me serve more customers and increase my income. I hope to become an example to other women.’

Alongside the women empowerment programme, Thor Explorations, through SROL, awarded scholarships to 63 students from its host communities, comprising 28 secondary school students and 35 tertiary students.

Through the SROL Gold Scholarship Programme, students are recognised for outstanding academic performance while receiving support to further their education and realise their potential.

Top-performing students in each category also received laptops and learning devices to support digital learning and encourage continued academic excellence.

Speaking at the event, Madhurii Sarkar-Amoda, Community Development and Stakeholder Manager, SROL, said:

‘When a company creates initiatives that directly address community needs, the impact is real. At Segilola, we see our host communities as partners in progress. Women and youth are central to entrepreneurship and sustainability. These programmes provide immediate support while laying the foundation for long-term growth and self-reliance.’

The 2026 awards were presented at ceremonies held on August 20 at the Iperindo Community New Town Hall.

The SWIP and SROL Gold Scholarship Programme form part of Thor Explorations’ broader commitment, delivered through SROL, to creating shared and lasting value in the communities surrounding its operations. Through continued investment in education, entrepreneurship, livelihoods and skills development, the Group is supporting initiatives that respond to local priorities and contribute to sustainable development beyond the life of the mine.

Marriage Is Not For Me – Tima Kumkum

Media personality Cynthia Tima Yeboah, popularly known as Tima Kumkum, says she has come to the conclusion that marriage is not for her, following two failed marriages.

Speaking at the Be Inspired by Tima Women’s Conference 2026, hosted at Faithway International Chapel, the broadcaster stated that despite facing intense criticism from sections of the media over her failed marriage, she remains unbothered.

‘People mock me on social media for my two failed marriages, but I won’t let their words define me. I was being truthful when I said in an interview that I married my first husband as revenge against my ex-boyfriend, but I have realised that people don’t like the truth and are using those words against me,’ she disclosed.

Tima Kumkum, who married for the first time at age 24 to a man identified only as Kwadwo, has been open about her marital struggles.

In a 2021 interview on The Delay Show, she revealed that her first marriage, which lasted five years and produced two children, was a revenge marriage. According to her, her boyfriend had cheated on her with her best friend, so she hurriedly married Kwadwo to spite him.

‘I married my ex-husband just to spite my ex-boyfriend for cheating on me with my friend. It was a revenge marriage. I wasn’t in love with him when we got married, which he knew, but he felt I would grow to love him with time,’ she confessed.

She later filed for divorce, describing it as the best decision of her life.

After four years as a single mother, Tima married for the second time on July 15, 2023, to Dominic Duodu, in a ceremony that attracted huge public attention.

However, the marriage lasted only 21 months. In August 2025, she confirmed that they had been living apart since April 1, 2025, and that their divorce case was before the court.

She described herself as ‘partially single’ and praised her estranged husband as a responsible father.

Corn eases with China in focus as US harvest set to accelerate

Corn was moderately lower Tuesday as traders waited to see if China will buy any US grain during this week’s summit in Washington while drier weather conditions should allow farmers to ramp up harvest activity.

Futures fell as much as 1.4 percent in Chicago. Prices had risen sharply in the previous session, in part on optimism China will start chipping away at a pledge outlined by the White House for $17 billion in agriculture purchases beyond an earlier deal for soybeans.

China as recently as 2022 imported over $5 billion worth of American corn, raising expectations that any program aimed at fulfilling a buying target would need to include the most widely grown US crop. So far, there are few indications of China purchases ahead of Thursday’s summit other than recently passing the halfway mark on a 25-million-ton soy target.

‘Corn would likely be a large portion of these import targets based on historical Chinese import data,’ StoneX risk management consultant Matt Campbell said in an email. However, he pointed out that China’s domestic corn prices are relatively cheaper than US supplies, making purchases uneconomical.

‘The US is not competitive price-wise today,’ he said.

Prices for corn and other crops are hovering near the highest levels in years after hot summer weather squeezed yields while fighting between Russia and Ukraine in the Black Sea disrupts grain exports and the US-Iran war keeps oil prices elevated.

Uncertainty surrounding the summit is limiting further gains for now. That’s as harvests of both corn and soybeans advanced more than analysts expected while US farmers also caught up on winter-wheat planting, according to US Department of Agriculture data released late Monday.

Conditions are expected to remain relatively dry in the eastern half of the US Midwestern crop belt, though wetter weather is seen in the northwestern part of the region.

Meanwhile, a joint report published Tuesday by the National Corn Growers Association and the American Soybean Association said that farmers remain under ongoing economic pressure even with the recent gains in prices. Many farmers have been receiving less for their crops than the costs for equipment, seed, fertilizer, fuel, chemicals and land necessary to produce them.

‘Many growers are still managing financial pressure that has built over multiple crop cycles,’ said Krista Swanson, chief economist at the NCGA and an Illinois farmer.

The situation has been exacerbated by the war in Iran, which has sent diesel prices to record highs just as farmers are using heavy machinery to bring in their fall crops.